Friday, 22 September 2023
In the first eight months of the year exports totaled US$ 45.4 billion and imports US$ 51.6 billion. The trade balance displayed a deficit of US$ 6.2 million.
- In the first eight months, exports equaled US$ 45.4 billion, which implied a year-on-year contraction of 24.0%, explained by a fall of 16.5% in quantities and 9.0% in prices.
- Imports amounted to US$ 51.6 billion and fell 10.3% in year-on-year terms, as a result of a drop of 7.6% in prices and 2.9% in quantities. This is mainly due to lower prices and imported quantities of Fuels and lubricants, and Motor vehicles. On the other hand, the imports of Parts and accessories for capital goods increased, due to higher quantities and price rises. In the case of vehicles, the increase in prices did not compensate for the fall in quantities.
- The trade deficit reached US$ 6.2 billion, due to a greater contraction of exports than of imports. In the first eight months of 2022 a surplus of US$ 2.2 billion had been recorded.
- The most significant falls in exports occurred in products such as: wheat (they decreased US$ 3.2 billion), soybean flour and pellets (−US$ 2.3 billion), corn (−US$ 2.3 billion), crude soybean oil (−US$ 2.1 billion) and biodiesel (−US$ 1.1 billion); while the largest increases occurred in motor vehicles for the transport of persons and displacement equal or lower than 1,000 cm3 (US$ 282 million), motor vehicles for the transport of goods (US$ 243 million), natural gas in gaseous state (US$ 208 million), soybean oil, excluded crude (US$ 198 million), and lithium carbonate (US$ 152 million).
- In relation to the soybean complex, the prices of flour and pellets increased by 2.6%, while those of crude oil (−29.1%), biodiesel (−16.5%) and beans (−11.6%) decreased. As for the quantities exported, those of biodiesel (−77.9%), flour and pellets (−30.6%), beans (−28.6%), and crude oil (−20.4%) fell.
- Regarding imports, the largest purchases of soybeans (US$ 2.6 billion), iron or steel pipes used in oil and gas pipelines (US$ 208 million), electrical energy (US$ 143 million) and car body parts and accessories (US$ 134 million) stand out; while those of gas oil (−US$ 2.3 billion), liquefied natural gas (−US$ 794 million), natural gas in gaseous state (−US$ 544 million); and fuel oil (−US$ 363 million) decreased.
- The three main partners, Brazil, China and the United States, represented as a whole 32.8% of the exports and supplied 55.5% of the imports. On the other hand, the share of the European Union was 10.3% of shipments and 13.9% of purchases.
- The highest surpluses were obtained in trade with Chile (US$ 2.7 billion), Peru (US$ 1.6 billion), India (US$ 926 million); while the largest deficits were recorded with China (−US$ 6.1 billion), Brazil (−US$ 4.9 billion), the United States (−US$ 2.7 billion), Paraguay (−US$ 2.1 billion), Germany (−US$ 1.4 billion) and Thailand (−US$ 1.0 billion).